The firm kicked off its salary reviews yesterday (1 August), three months ahead of schedule, in order to let assistants know how much money they will receive from 1 October. This will allow lawyers to compare rates with national rivals, which traditionally conduct pay reviews over the summer.
McGrigors previously calculated its salaries and annual bonuses in early November to coincide with its financial year, before backdating the salaries to the start of October.
The decision to move the review forward was made following a review by management earlier this year.
McGrigors’ bonus pay-outs will still be calculated in early November to allow the firm to reflect its financial performance during the previous year.
A spokesperson for McGrigors confirmed: “To respond to dynamic market conditions, we made the decision to shift our salary reviews forward to the summer to coincide with our peer firms.”
The news comes as it emerges McGrigors chief financial officer, Tim Wilcock, is also set to leave the top 50 law firm in the autumn. Wilcock, who is part of McGrigors’ senior management team, has accepted a role with